Arab News
Arab News, Wed, Feb 05, 2025 | Shaaban 6, 1446
Closing Bell: Saudi Arabia’s main index closes in green at 12,434
Saudi Arabia:
Saudi Arabia’s Tadawul All Share Index
rebounded on Tuesday, as it gained 56.90 points or 0.46 percent to close at
12,433.93.
The main index witnessed a total trading turnover
of SR6.30 billion ($1.68 billion), with 155 stocks advancing and 70 retreating.
The Kingdom’s parallel market, Nomu, also gained
139.99 points to close at 31,197.37.
The MSCI Tadawul Index edged up by 0.44 percent to
close at 1,548.61.
The best-performing stock on the main market was
Kingdom Holding Co. The firm’s share price increased by 8.89 percent to
SR10.78.
The share price of Allied Cooperative Insurance
Group increased by 7.25 percent to SR16.86.
National Medical Care Co. also saw its stock price
climb by 4.63 percent to SR162.60.
Conversely, the share price of Al-Babtain Power
and Telecommunication Co. declined by 4.02 percent to SR44.20.
On the announcements front, Arab National Bank
said that it completed the issuance of riyal-denominated additional Tier 1 sukuk
through a private placement in the Kingdom.
The sukuk issuance was completed under the
financial institution’s SR11.25 billion additional Tier 1 capital sukuk program,
at a value of SR3.35 billion.
Arab National Bank saw its share price increase by
0.09 percent to close at SR21.52
Bank Albilad said that its net profit in 2024
reached SR2.8 billion in 2024, representing a rise of 18.47 percent compared to
the previous year.
In a Tadawul statement, the financial institution
said that the increase in net profit was driven by an 8 percent rise in net
income from investing and financing assets, despite return on deposits and
financial liabilities increased by 20 percent.
The share price of Bank Albilad, however, declined
by 0.51 percent reaching SR38.65.